Crime Insurance/ERISA Bond
Any company can be the victim of a workplace crime such as theft, fraud, forgery, property destruction, and cybercrime including social engineering. No organization is immune to the potential loss of an embezzlement scheme carried out over a number of years.
Some of the emerging crime-related losses are not typically covered by commercial property insurance. You should consider the merits of a comprehensive Crime insurance program.
Employee Retirement Income Security Act (ERISA) bond coverage is often added to a crime policy to comply with ERISA bonding requirements. This requirement protects plans against losses sustained due to acts of fraud or dishonesty by those persons whose positions require them to come in direct contact with or exercise discretion over plan assets.
- Social engineering fraud
- Employee dishonesty - theft, fraud and embezzlement
- Forgery or alteration
- On premises / in transit
- Funds transfer fraud